0x is an open source and non-rent seeking protocol that facilitates a frictionless peer-to-peer transfer of ERC tokens on the Ethereum Blockchain. The protocol uses a set of Ethereum's smart contracts to execute these transactions. The smart contracts are freely accessible and are compatible with multiple dApps (decentralized applications).
0x (ZRX) token is the fuel or gas on the 0x platform. It is this token that peers on the network use to facilitate various transactions. The tokens are ed for decentralized governance over the platform which helps in minimizing disruptions on the network. It also helps create a feedback loop from which developers can benefit by its wider adoption. Coordination problems within the network are also solved using the token.
The main use of the 0x platform is to have developers build exchange applications and carryout low friction exchange of Ethereum based tokens.
The team behind this project stems from various fields including research, engineering, business and design. The most notable members are CEO and co-founder Will Warren, CTO and co-founder Amir Bandeali and senior engineer Fabio Berger among others.